Tricon Saginaw and Tricon Garland bring high-quality professionally managed single-family rental homes to two high-demand markets: Over 900 new Tricon homes completed or under development in Texas to date
Tricon Residential Inc., a Blackstone Real Estate portfolio company, today announced the grand opening of two new built-to-rent (BTR) communities in Texas that will bring 267 professionally managed rental homes to the Dallas-Fort Worth area. The two new communities, Tricon Saginaw and Tricon Garland, deliver the benefits of single-family living at rents well below the monthly cost of homeownership in the same neighborhoods. These openings mark the fourth andfifth community Grand Openings this year in Texas, and the 9th and 10th new Tricon BTR communities opened this year across the country, bringing the total number of new homes Tricon has opened or is developing to over 2,600.
The U.S. currently faces a housing shortage of 4-5 million homes, which drives up housing costs and limits access to quality homes. Tricon recognizes that this prevents many families from accessing single-family living within their preferred neighborhoods and is offering a solution to this problem by building thoughtfully designed homes and communities that allow families to find great places to live near good schools, job opportunities, and essential services.
Tricon Saginaw: Located at 206 Hardwick Drive in Saginaw, TX, Tricon Saginaw will offer three-and four-bedroom floor plans featuring:
- Spacious bedrooms with oversized closets, attached two-car garages, and fully fenced backyards
- Chef’s kitchens and islands, granite countertops, stainless-steel appliances, and in-home washer/dryers
- Resort style amenities, including a community pool with cabanas, a neighborhood park, a “tot lot” for children, BBQ areas, and a dog park
- Professionally maintained front and backyard landscaping, and a smart home technology package with automatic thermostat control, keyless front door entry, front door sensor, and leak detection sensor
Tricon Garland: Located at 5488 Sandstone Drive in Garland, TX, Tricon Garland will deliver three- and four-bedroom floor plans featuring:
- Spacious bedrooms with oversized closets, attached two-car garages, and fully fenced backyards
- Chef’s kitchens and islands, granite countertops and stainless-steel appliances and in-home washer/dryers
- Community amenities including a dog park and multiple community spaces for children
The community is being developed in partnership with HHS Residential.
“Tricon is committed to addressing the urgent need for more new and high-quality housing options nationwide. We’re continuing to deliver results by opening two new built-to-rent communities in Saginaw and Garland, increasing the housing supply for Texas families,” said Andrew Carmody, Senior Managing Director at Tricon Residential. “We know that where you live matters when it comes to education, job opportunities, and long-term success. These new communities will ensure families can enjoy professionally-managed and well-maintained homes without the barriers of homeownership.”
“In Saginaw, we are focused on ensuring the housing supply meets the needs of our fast-growing community. We welcome this newest neighborhood to our city and are thankful to Tricon and HHS for making this much-needed investment in our community. Together we’re building a stronger, more vibrant future for Saginaw and the families who call it home,” said Saginaw Mayor Todd Flippo
“We are thrilled to welcome Tricon Garland to our city. This thoughtfully designed rental home community combines high-quality living with smart, sustainable features, and it will contribute significantly to Garland’s ongoing growth and vibrancy. By adding modern, energy-efficient homes in a location that balances access to nature and proximity to surrounding amenities, Tricon, Blackstone and HHS reinforces our commitment to expanding housing options that meet the needs of families and professionals alike. I look forward to seeing new neighbors call Garland home and to the positive economic and community impact this development will bring,” said Garland Mayor Dylan Hedrick.
David O’Neill, Managing Director at Blackstone Real Estate said, “Blackstone and Tricon are thrilled to add thousands of high-quality and professionally managed homes in Texas and across America, aiming to enhance and expand housing supply and provide families with access to housing options at rents meaningfully below the monthly cost of homeownership in the same neighborhoods. Tricon Saginaw, Tricon Garland and other communities in our development pipeline seek to make single-family living more attainable for people across the state and country.”
Blackstone invested nearly $100 million to help bring these communities to life. “By building new, affordably priced communities like these in Saginaw and Garland, we’re helping to boost the housing supply, provide families with more opportunities, and create new, professionally-managed single-family rental options in the Dallas-Fort Worth area,” said Matt McGhee, HHS Residential.
The Value of Built-to-Rent Communities Tricon’s built-to-rent communities are designed to expand access to single-family living, offering an alternative for families who are seeking single-family living but are not in a position to buy. Research from Harvard economist Dr. Raj Chetty highlights the critical role neighborhoods play in shaping long-term success. Tricon’s BTR communities place residents in well-resourced areas, providing stability and opportunity without the upfront financial burden of homeownership.
Tricon’s Resident Bill of Rights Tricon is proudly resident-centric, offering an industry-leading Bill of Rights for families in our communities. This is a first-of-its-kind approach among single-family rental housing providers in the United States, which outlines Tricon’s commitment to providing quality, move-in-ready homes with caring and reliable service.
Tricon’s Commitment to Residents As part of Tricon’s commitment to supporting its residents, Tricon Saginaw and Tricon Garland residents will have access to Tricon Vantage, a suite of resources designed to help them realize their financial goals and enhance their financial well-being. These include:
- Free Credit Builder Program – Enables residents to build their credit history by reporting on-time rent payments to the three major credit bureaus.
- Financial Coaching and Literacy Programs – Offers residents financial education resources, including one-on-one coaching and workshops.
- Resident Down Payment Assistance Program – Provides eligible residents with $5,000 toward a down payment on a home anywhere in the U.S.
About Tricon Residential Inc. Tricon Residential is an owner, operator and developer of single-family rental homes in the U.S. and multi-family apartments in Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon’s culture and business philosophy. We provide high-quality rental housing options for families across the United States and Canada through our technology-enabled operating platform and dedicated on-the-ground operating teams. Our development programs are also delivering thousands of new rental homes and apartments as part of our commitment to help solve the housing supply shortage. At Tricon, we imagine a world where housing unlocks life’s potential. For more information, visit www.triconresidential.com.
HHS Residential A part of the Highland Homes family and founded in 2019, HHS Residential operates in all high-growth Texas markets and provides turnkey build-to-rent options in the growing market of single-family rental homes. From community infrastructure and development to amenity and home construction, HHS Residential has streamlined the build-to-rent process to be efficient, and seamless. With designs that resonate with today’s families and complement the lifestyle vision of our developer partners, HHS Residential brings the same quality craftmanship and exceptional service for which Highland Homes is known. An employee-owned company, the HHS Residential team is personally invested in getting results for our partners. For more information, visit https://hhsresidential.com/.
Blackstone Real Estate Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $320 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).
